Hello, and welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Eric Botts.

 

Eric is a practicing optometrist in Macomb, IL and what I love about Eric’s practice model is that he is the lease holder at four different Walmart vision centers. In today’s conversations we talk about what his practice looks like and the make-up of his team and how he balances the dynamics of having a relationship with not only the team that he pays but also Walmart team members that work inside the VC. We also talk about what he means by “right hand authority” when it comes to the delineation between “who does what” inside of his practice, why he takes an extreme ownership mentality with his CA practice, and what holding multiple leases has allowed him to do as it pertains to his work-life balance. We also talk about his adoption of the medical model inside of his practice and the influence that it’s had on his practice’s success and why that can sometimes be used as a “tipping point” for ODs that are looking to outsource some of their billing reimbursement work. We also talk about how his interest and pursuit of adopting the medical model was the genesis for a completely separate business, Optometric Billing Consultants, and how he balances the responsibilities between both businesses while helping other ODs around the country managing the workload of insurance billing and reimbursements. And make sure to stick around to the end, where Eric answers my “one question” through both the personal and professional financial filters.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 15min pre-discovery conversation to learn a little bit more about what it means to work with our firm or download our popular ebook called “Five Tips to Financial Freedom for Optometrists.”

And with that introduction, I hope you enjoy my conversation with Dr. Eric Botts.

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